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Steven Ng-Sheong Cheung
Steven Ng-Sheong Cheung ( born December 1, 1935) is a Hong Kong-born American economist who specializes in the fields of transaction costs and property rights, following the approach of new institutional economics. He achieved his public fame with an economic analysis on China open-door policy after the 1980s. In his studies of economics, he focuses on economic explanation that is based on real world observation (an observation first approach). He is also the first to introduce concepts from the Chicago School of Economics, especially price theory, into China. In 2016, Cheung claimed to have written "1,500 articles and 20 books in Chinese" during his academic career. He obtained his PhD in economics from UCLA, where his teachers were the American economists Armen Alchian and Jack Hirshleifer. He taught in the Department of Economics at the University of Washington from 1969 to 1982, and then at the University of Hong Kong from 1982 to 2000. During this period, Cheung reformed t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Institutional Economics
New Institutional Economics (NIE) is an economic perspective that attempts to extend economics by focusing on the institutions (that is to say the social and legal norms and rules) that underlie economic activity and with analysis beyond earlier institutional economics and neoclassical economics. Unlike neoclassical economics, it also considers the role of culture and classical political economy in economic development. The NIE assume that individuals are rational and that they seek to maximize their preferences, but that they also have cognitive limitations, lack complete information and have difficulties monitoring and enforcing agreements. As a result, institutions form in large part as an effective way to deal with transaction costs. NIE rejects that the state is a neutral actor (rather, it can hinder or facilitate effective institutions), that there are zero transaction costs, and that actors have fixed preferences. Overview It has its roots in two articles by Ronald Coase ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Property Right
The right to property, or the right to own property (cf. ownership) is often classified as a human right for natural persons regarding their possessions. A general recognition of a right to private property is found more rarely and is typically heavily constrained insofar as property is owned by legal persons (i.e. corporations) and where it is used for production rather than consumption. A right to property is recognised in Article 17 of the Universal Declaration of Human Rights, but it is not recognised in the International Covenant on Civil and Political Rights or the International Covenant on Economic, Social and Cultural Rights. The European Convention on Human Rights, in Protocol 1, article 1, acknowledges a right for natural and legal persons to "peaceful enjoyment of his possessions", subject to the "general interest or to secure the payment of taxes." Definition The right to property is one of the most controversial human rights, both in terms of its existence and inte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mainland China
"Mainland China" is a geopolitical term defined as the territory governed by the China, People's Republic of China (including islands like Hainan or Chongming Island, Chongming), excluding dependent territories of the PRC, and other territories within Greater China. By convention, the territories that fall outside of the Chinese mainland include: * Hong Kong, a Dependent territory, quasi-dependent territory under PRC rule that is officially designated a "Special administrative regions of China, Special Administrative Region of the PRC" (formerly a British Hong Kong, British colony) * Macau, a quasi-dependent territory under PRC rule that is officially designated a "Special Administrative Region of the PRC" (formerly a Portuguese Macau, Portuguese colony) * Territories ruled by the Republic of China (ROC, commonly referred to as Taiwan), including the Taiwan (island), island of Taiwan, the Penghu (Pescadores) islands in the Taiwan Strait, and the islands Kinmen, Matsu Islands, Ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hong Kong
Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China (abbr. Hong Kong SAR or HKSAR), is a List of cities in China, city and Special administrative regions of China, special administrative region of China on the eastern Pearl River Delta in South China. With 7.5 million residents of various nationalities in a territory, Hong Kong is one of the List of countries and dependencies by population density, most densely populated places in the world. Hong Kong is also a major global financial centre and one of the Global city, most developed cities in the world. Hong Kong was established as a British Hong Kong, colony of the British Empire after the Qing dynasty, Qing Empire ceded Hong Kong Island from Bao'an County, Xin'an County at the end of the First Opium War in 1841 then again in 1842.. The colony expanded to the Kowloon Peninsula in 1860 after the Second Opium War and was further extended when Britain obtaine ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Guangdong
Guangdong (, ), alternatively romanized as Canton or Kwangtung, is a coastal province in South China on the north shore of the South China Sea. The capital of the province is Guangzhou. With a population of 126.01 million (as of 2020) across a total area of about , Guangdong is the most populous province of China and the 15th-largest by area as well as the second-most populous country subdivision in the world (after Uttar Pradesh in India). Its economy is larger than that of any other province in the nation and the fifth largest sub-national economy in the world with a GDP (nominal) of 1.95 trillion USD (12.4 trillion CNY) in 2021. The Pearl River Delta Economic Zone, a Chinese megalopolis, is a core for high technology, manufacturing and foreign trade. Located in this zone are two of the four top Chinese cities and the top two Chinese prefecture-level cities by GDP; Guangzhou, the capital of the province, and Shenzhen, the first special economic zone in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Huiyang
Huiyang District ( postal: Waiyeung; is a district of Huizhou, Guangdong province, People's Republic of China. It was renamed in 2003 amid the restructuring of districts and counties in Huizhou. Formerly named Huiyang city (county level), its size shrank after the restructuring with several towns incorporated into the Huicheng district of Huizhou. Huiyang is the southern urban center of Huizhou along with Huicheng as the northern urban center. Administrative divisions Transport There is a bus service from Huiyang District to Shenzhen Bao'an International Airport in Shenzhen. " Shenzhen Bao'an International Airport
Shenzhen Bao'an ...
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Hakka
The Hakka (), sometimes also referred to as Hakka Han, or Hakka Chinese, or Hakkas are a Han Chinese subgroup whose ancestral homes are chiefly in the Hakka-speaking provincial areas of Guangdong, Fujian, Jiangxi, Guangxi, Sichuan, Hunan, Zhejiang, Hainan, Guizhou in China, as well as in Taoyuan City, Hsinchu County, Miaoli County, Pingtung County, and Kaohsiung City in Taiwan. The Chinese characters for ''Hakka'' () literally mean "guest families". Unlike other Han Chinese subgroups, the Hakkas are not named after a geographical region, e.g. a province, county or city, in China. The word ''Hakka'' or "guest families" is Cantonese in origin and originally refers to the Northern Chinese refugees fleeing social unrest, upheaval and invasions in northern parts of China (such as Gansu and Henan) during the Qin dynasty who then seek refuge in the Cantonese provinces such as Guangdong and Guangxi, thus the original meaning of the word implies that they are guests living in the Canton ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chicago School (economics)
The Chicago school of economics is a neoclassical school of economic thought associated with the work of the faculty at the University of Chicago, some of whom have constructed and popularized its principles. Milton Friedman and George Stigler are considered the leading scholars of the Chicago school. Chicago macroeconomic theory rejected Keynesianism in favor of monetarism until the mid-1970s, when it turned to new classical macroeconomics heavily based on the concept of rational expectations. The freshwater–saltwater distinction is largely antiquated today, as the two traditions have heavily incorporated ideas from each other. Specifically, new Keynesian economics was developed as a response to new classical economics, electing to incorporate the insight of rational expectations without giving up the traditional Keynesian focus on imperfect competition and sticky wages. Chicago economists have also left their intellectual influence in other fields, notably in pio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Methodology
In its most common sense, methodology is the study of research methods. However, the term can also refer to the methods themselves or to the philosophical discussion of associated background assumptions. A method is a structured procedure for bringing about a certain goal. In the context of research, this goal is usually to discover new knowledge or to verify pre-existing knowledge claims. This normally involves various steps, like choosing a sample, collecting data from this sample, and interpreting this data. The study of methods involves a detailed description and analysis of these processes. It includes evaluative aspects by comparing different methods to assess their advantages and disadvantages relative to different research goals and situations. This way, a methodology can help make the research process efficient and reliable by guiding researchers on which method to employ at each step. These descriptions and evaluations of methods often depend on philosophical background ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Maximization (economics)
Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Central characteristics of capitalism include capital accumulation, competitive markets, price system, private property, property rights recognition, voluntary exchange, and wage labor. In a market economy, decision-making and investments are determined by owners of wealth, property, or ability to maneuver capital or production ability in capital and financial markets—whereas prices and the distribution of goods and services are mainly determined by competition in goods and services markets. Economists, historians, political economists and sociologists have adopted different perspectives in their analyses of capitalism and have recognized various forms of it in practice. These include ''laissez-faire'' or free-market capitalism, anarcho-capitalism, state capitalism and welfare capitalism. Different forms of capitalism feature varying degrees of fr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hong Kong Advanced Level Examination
The Hong Kong Advanced Level Examination (HKALE, 香港高級程度會考), or more commonly known as the A-level, conducted by the Hong Kong Examinations and Assessment Authority (HKEAA), was taken by senior students at the end of their matriculation in Hong Kong between 1979 and 2012. It was originally the entrance examination in University of Hong Kong until the introduction of the Joint University Programmes Admissions System (JUPAS) in 1992, which made it the major university entrance examination until academic year 2011/2012. The examination was conducted from March to May, and the results were routinely released in the first week of July (or late June). There were altogether 17 A-level and 17 AS-level subjects in the HKALE. AS-level was commonly known as Hong Kong Advanced Supplementary Level Examination (HKASLE). AS-level subjects were taught within half the number of periods compared to that required for A-level subjects, but they demanded the same level of intellectual ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UCLA
The University of California, Los Angeles (UCLA) is a public land-grant research university in Los Angeles, California. UCLA's academic roots were established in 1881 as a teachers college then known as the southern branch of the California State Normal School (now San José State University). This school was absorbed with the official founding of UCLA as the Southern Branch of the University of California in 1919, making it the second-oldest of the 10-campus University of California system (after UC Berkeley). UCLA offers 337 undergraduate and graduate degree programs in a wide range of disciplines, enrolling about 31,600 undergraduate and 14,300 graduate and professional students. UCLA received 174,914 undergraduate applications for Fall 2022, including transfers, making the school the most applied-to university in the United States. The university is organized into the College of Letters and Science and 12 professional schools. Six of the schools offer undergraduate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
